Are Mark Zuckerberg and Jeff Bezos the new feudal elite?
Anand Giridharadas talks to INET President Rob Johnson about how the titans of Silicon Valley use “philanthropy” to control more of our lives.
It was feudalism that capitalism overthrew. Then America was founded. Then a gentleman by the name of Karl Marx came along and pointed out that capitalism wasn’t as big a step up from feudalism as some claimed it was–and by the 1920’s the stock market crash had served to show the merit of many of his arguments. In the 1930’s, a gentleman named Franklin Roosevelt made some structural changes to capitalism.
He was able to do this because a coalition of Communist and Socialist political parties and Unions gave him popular backing. Those groups were systematically destroyed after they did, and even though these structural changes made capitalism as a system more viable and more durable, these changes were slowly undone in the years since then. Now, with the New Deal being destroyed, all the things that caused it in the first place are coming back.
It should be no surprise to anyone.